$ADA could be on the verge of a long-term reversal, but the price performance today is still depressing
Additionally, we are seeing a downtrend in a trading volume — one of the strongest fading/reversal signals observed on the market. As a trend goes by, bulls or bears gradually lose their power, slowly giving the momentum away; at that point, a trend reversal happens. This could be the case for Cardano in 2023, especially if we see a general recovery of the cryptocurrency market.
However, the whole analysis was based on only a few indicators that do not give us any fundamental insight that would also allow us to confidently forecast the movement of ADA in 2023.
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